Communications Services Up on Rotation Out of AI Bets — Communications Services Roundup

Communications services stocks rose as traders rotated out of AI bets into defensive sectors like cell-phone carriers, with Verizon and AT&T shares gaining over 1%. Meanwhile, California Attorney General Rob Bonta cancelled a meeting with Paramount Skydance CEO David Ellison regarding the state's lawsuit to block the company's purchase of Warner Bros. Discovery.

Communications-services companies rose as traders rotated out of artificial-intelligence bets into defensive areas such as cell-phone carriers.

Shares of Verizon and AT&T both rose by 1% or more.

California Attorney General Rob Bonta cancelled a meeting with Paramount Skydance Chief Executive David Ellison where the parties were expected to discuss settling a lawsuit the state led seeking to block the company's purchase of Warner Bros. Discovery.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

August 24, 2026 17:46 ET (21:46 GMT)

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